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Ford sales jump in China

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Miguel A. Rodriguez
Miguel A. Rodriguez
20 July 2021
The American multinational automaker revealed impressive sales for the first half of the year in Greater China

Ford reported that it sold more than 306,700 vehicles in the first six months of 2021, marking a 24% year-over-year increase. The surge was possible despite the global chip shortage, the carmaker racking up sales in the world’s largest auto market. Still, the shortage bit into Ford sales in Q2, being down 3.6% year-over-year.

Moreover, Ford said its electrification push in China continues with Mustang Mach-E and the inauguration of 10 direct-to-customer electric vehicles storefronts in Q2.

“Ford is focused on offering the right mix of world-class vehicles and services to our customers in China and on continuing the momentum and growth of our business,” stated President and CEO of Ford China, Anning Chen.

The surprising results came after last month the company announced that will halt production at the Michigan factory for a lack of parts while curtailing production at eight more factories due to chip shortage.

Now, Ford is due to publish its second-quarter earnings on July 28.

After the announcement, Ford stock price closed 2.99% higher.

Source: thestreet.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.